Housing assistance programs in the US started with the Great Depression. Since then, a number of different solutions have been proposed for the issue of low-income housing. Section 8 has been one of the most enduring. It’s been a fixture of the American housing landscape since its introduction in 1974.
Coworking is a relatively new concept, but it’s one that’s catching on quickly. It involves professionals sharing office space on a rotating basis, so operational costs can be minimized. The professionals may be freelancers, or they may be employed by different companies who are willing to share the costs of renting the office space. While there are clear benefits to employers and freelancers, this also opens up lucrative opportunities for commercial real estate investors.
One of the most serious problems for Americans today is the issue of affordable housing. In markets like Los Angeles, Boston, and New York, housing costs present a serious challenge to young professionals and growing families. Cities like San Francisco and LA have seen incredible increases in homelessness related to this problem.
The evolution of the internet brought about new opportunities for virtually every industry, including travel and hospitality. The big hotel chains no longer hold a position of dominance, and private real estate owners can now cash in by providing less expensive, quality accommodations for travelers on a budget. This trend is expected to grow, suggesting short-term rentals are here to stay.
Investors in rental properties have to walk a fine line. On the one hand, owners, investors, and landlords want to offer features in a rental property that will bring in the best prices and attract the best renters, yet they also have to avoid features that can be easily damaged or need to be replaced often. Some features are also more desirable in the city than in the suburbs. For instance, in New York City, the presence of a doorman can significantly increase rental prices, but is not as desirable of a feature in most other cities. Here are three features that will increase the price of your rentals no matter where they are located.